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African Markets - Factors to watch on October 30

By Reuters News

NAIROBI, Oct 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

- - - - -

EVENTS:

*Kenya and Uganda statistics offices to release their respective consumer inflation data for October.


GLOBAL MARKETS

Tech shares slumped in Asia on Friday, while the yen rose and bonds surged toward their biggest monthly gain in nearly three years as investors scurried to safety against worries that huge and rising AI spending may not deliver sufficient returns.MKTS/GLOB


WORLD OIL PRICES

Oil prices rose on Friday — set for a fourth monthly gain — as an attack on a tanker in the Strait of Hormuz highlighted the continuing supply risks from the US-Israeli war on Iran, which has entered its eighth month.O/R


AFRICA STOCKS

For the latest news on African stocks, click on .J


SOUTH AFRICA MARKETS

South Africa's rand weakened on Thursday, pressured by falling gold and platinum prices after the US Federal Reserve held interest rates steady, while faster producer inflation added to concerns about domestic outlook.


NIGERIA CRUDE OIL

Exports of the four main Nigerian crude oil grades are scheduled at about 888,000 barrels per day in December, preliminary loading programmes seen by Reuters show.


AFRICA CURRENCIES

The currencies of Nigeria, Ghana, Kenya and Uganda are expected to be little changed against the dollar in the next week to Thursday, but Zambia's could fall further, traders said.


SENEGAL DEBT

Moody's downgraded Senegal's foreign-currency sovereign ratings for a fifth straight time on Thursday, pushing them deeper into junk territory and warning that external private creditors are likely to face larger losses than previously expected under the country's planned debt restructuring.


RWANDA RUSSIA NUCLEAR POWER

Rwanda will become Russia's first partner in Africa on a small nuclear power plant project, Alexei Likhachev, the head of Russian state nuclear power company Rosatom, was quoted as saying by Interfax news agency on Thursday.


RUSSIA GHANA ALUMINIUM

Russian aluminium producer Rusal said on Thursday it had reached an agreement with the state-owned Ghana Integrated Aluminum Development Corporation to jointly develop bauxite and alumina projects in Ghana.


KENYA IMF

The International Monetary Fund said Kenya faces considerable debt and fiscal challenges, and the country will need credible and balanced fiscal consolidation to emerge from them.


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